Smart home gadgets are gaining popularity — from home assistants such as Google Home and Amazon Echo to smart thermostats and even light bulbs.
And now with smart home insurance you can combine this technology with traditional insurance to protect your home.
When it comes to insurance policies, the amount you pay depends on the risk you present to your insurer. Those that are less likely to make a claim are often rewarded with more affordable insurance policies. In the case of home insurance, it makes sense that improving security and preventing accidents should make you less likely to claim.
This is where smart devices such as cameras, motion sensors and leak detectors come in. These devices are designed to protect your home by improving security and offering early warning capabilities and protection against accidents such as fires and water leaks - all common reasons for making home insurance claims. If the worst does happen, you’re backed up by a comprehensive home insurance policy.
The first company to offer ‘prevention first, insurance just in case’ cover in the UK is Neos.
Neos is an innovative home insurer that includes smart technology to protect your home as part of its home insurance cover.
Neos insurance policies include up to 11 smart devices to help protect your home, including an HD camera and flood, smoke, door and motion sensors. You can choose from three levels of cover basic cover with one camera to full cover with the full range of smart devices and other extras such as accidental damage cover and 24-hour monitoring.
As well as smart devices, Neos policies also come with a connected app so you can actively protect your home from your phone. The connected app can give you peace of mind when you’re away from home as you will be alerted in real-time if any of the sensors are activated. You can keep an eye on your home with the app 24/7, from anywhere in the world.
The combination of the smart devices and connected app can help you to detect the problems that lead to some of the most common home insurance claims, including escape of water, theft and fire. Even if there’s nothing you can do to prevent these scenarios, the smart devices can help alert you to them sooner, so you can take action and prevent further damage.
Imagine if you were out of the house at work or even away for a few days and there was a water leak — it’s unlikely you’d know about it until you get home and by then the issue could have spread and caused irreparable damage. With Neos, you can get notified and be able to take action straight away.
Just like traditional home insurance, you can choose from buildings, contents or combined cover to suit your needs, whether you’re a homeowner or a renter. If you are renting, you should check with your landlord to see if they are happy for you to have Neos installed. For contents insurance (as your landlord should take care of buildings insurance).
Smart home insurance is not just those who want the latest gadgets but those who care about security and making sure everything is working right at home — all backed up with the safety net of a comprehensive home insurance policy.